This course introduces principles and concepts of financial accounting as a means of recording business activities. Students will study the double-entry accounting system and the accounting cycle, including: preparation of journal entries, ledger, trial balance, and financial statements.

Accounting has been called "the language of business." Accordingly, this course emphasizes the provision of relevant and reliable information used by investors, creditors and managers in making financial and business decisions. Areas of emphasis include the basic concepts and principles of financial accounting, the accounting cycle, financial statement preparation, information systems and processing, and internal control. Recognition, measurement, and classification of assets, liabilities, revenues and expenses are examined and the alternative forms of business organization are covered. BSBA majors only.